The company Sava Reinsurance Company d.d., Dunajska 56, 1000 Ljubljana, (hereinafter: Sava Re or the Company), pursuant to Article 386 of the Markets in Financial Instruments Act and in accordance with its Invitation to submit a binding offer as a shareholders of Pozavarovalnica Sava in the OTC buyback programme (published on 11 April 2016 via the SEOnet system and on the Sava Re website; hereinafter: Invitation), hereby notifies its shareholders and the public that based on valid binding offers received and in compliance with the criteria and provisions of the Invitation in the OTC buyback programme, it has determined the purchase price at which the Company will acquire Sava Re shares with ticker POSR and ISIN number SI0021110513 (POSR shares) (hereinafter: Determined price) and the amount of POSR shares that the Company is prepared to acquire under this programme (hereinafter: Purchase quantity of POSR shares), as follows:

  • the Determined price per POSR share is € 15.00 and
  • the Purchase quantity of POSR shares is 845,599POSR shares.

In accordance with the procedure referred to in the Invitation, all valid binding offers made by shareholders with a price lower than the Determined price have been accepted, while binding offers at the Determined price have been accepted up to the Purchase quantity of POSR shares, respecting the time stamp of receipt of the binding offer (the binding offer with an earlier time stamp had priority). The last binding offers that were received with the same time stamp were accepted partially up to the Purchase quantity of POSR shares.

Shareholders who have submitted a binding offer will be informed by NLB d.d. about acceptance of their binding offers no later than by Tuesday, 19 April 2016. The respective shareholders will be sent a Notification on Acceptance of Shareholder's Binding Offer (hereinafter: Notification) by electronic mail (if provided in the binding offer) or by ordinary mail (if e-mail address was not included).

Based on the binding offers received, Sava Re estimates that in the OTC buyback programme, it will acquire 845,599 POSR shares; however, the announcement on the actual number of shares acquired will be published via the SEOnet system and on the Sava Re website after the settlement of shares which is to take place on 22 April 2016.

This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

Pozavarovalnica Sava d.d. issued this content on 18 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2016 14:17:07 UTC

Original Document: http://www.sava-re.si/en/media-centre/news/1386/notice-on-determination-of-price-and-purchase-quantity-in-the-otc-buyback-programme/